The Central Bank of Nigeria says the Global Standing Instruction (GSI) established that it has plans in motion to expand to corporate accounts and microfinance banks in the country.
The Director, Banking Supervision of the CBN, Mr Haruna Mustafa, said this at the 2021 Financial Correspondents Association of Nigeria workshop in Ibadan, Oyo State on Friday.
Global Standing Instruction (GSI) policy is meant to facilitate improved credit repayment culture in the country; reduce non-performing loans (NPLs), and promote watch-listing of chronic loan defaulters in the Nigerian Banking System.
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